30,794 Shares in Cinemark Holdings Inc $CNK Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group initiated a Cinemark stake, buying 30,794 shares valued at approximately $1.15 million in the third quarter; several other institutional investors also increased their holdings.
• Cinemark beat quarterly estimates, reporting adjusted earnings of $1.04 per share and revenue of $1.06 billion, up 23.5% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $39.57. Shares opened at $38.89 and were down 2.9% in the trading session described.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,794 shares of the company's stock, valued at approximately $1,149,000.

A number of other large investors have also recently bought and sold shares of the business. State of Wyoming raised its holdings in shares of Cinemark by 8.5% in the third quarter. State of Wyoming now owns 14,299 shares of the company's stock valued at $533,000 after buying an additional 1,119 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Cinemark by 13.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,000 shares of the company's stock worth $932,000 after buying an additional 3,000 shares during the period. Choreo LLC boosted its stake in shares of Cinemark by 10.9% during the third quarter. Choreo LLC now owns 7,061 shares of the company's stock worth $263,000 after buying an additional 693 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Cinemark by 25.7% during the third quarter. Tectonic Advisors LLC now owns 52,565 shares of the company's stock worth $1,961,000 after buying an additional 10,762 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in shares of Cinemark by 2,719.8% during the third quarter. Sterling Capital Management LLC now owns 10,546 shares of the company's stock worth $393,000 after buying an additional 10,172 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Roth Capital restated a "buy" rating and issued a $45.00 price target on shares of Cinemark in a research report on Friday, October 23rd. JPMorgan Chase & Co. upped their price objective on Cinemark from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Friday, October 23rd. Barrington Research set a $42.00 price objective on Cinemark in a research report on Thursday, July 30th. Moffett Nathanson reiterated a "buy" rating and issued a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $40.00 target price on shares of Cinemark in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and an average price target of $39.57.

Cinemark Stock Down 2.9%

CNK stock opened at $38.89 on Friday. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $41.55. The stock has a market capitalization of $4.51 billion, a PE ratio of 16.69 and a beta of 1.07. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.81 and a current ratio of 0.94. The company has a fifty day moving average of $37.14 and a 200-day moving average of $31.65.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Cinemark had a net margin of 8.13% and a return on equity of 60.04%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 23.5% compared to the same quarter last year. As a group, analysts expect that Cinemark Holdings Inc will post 2.75 EPS for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark's dividend payout ratio is currently 15.45%.

Cinemark Company Profile

Cinemark Holdings, Inc NYSE: CNK is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.

Cinemark's theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.